That is, of course, not a "tax" question but a political question.
What do you think is meant by a "flat" tax? Do you really want to eliminate all deductions? Mortgage interest deduction? Gone. Married? You and your wife get taxed at the rate for as for singles. Kids? No exemptions for them. Sell your house? No exemption from capitals gains; it gets taxed at the flat rate, even if you buy another home to replace it.
Everything in the tax code was put there for a reason, from the reduced tax rates for married couples to the billion-dollar corporate welfare tax credits. Not necessarily for good reasons, mind you, but enough congressmen thought at one time that each of those loopholes was justified to vote them in.
Be careful what you ask for; you just might get it.
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Today's Featured Article - New Life for an Old Allis - by Tyler Woods. My friend Jon, has an old '39 Allis Chalmers B. He thought it a marginal tractor that had long since served its time. She smoked terribly and never had much power but he couldn't afford another so he was limping along with what he had. Jon's Allis has a small front loader and though it doesn't carry much, it serves his needs. It was the hard starting and low power that made him think it was time to replace the old girl. Jon called me to help him discover why his tractor wouldn't start
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